Brokerages Set Iron Mountain Incorporated (NYSE:IRM) Target Price at $131.00

Iron Mountain Incorporated (NYSE:IRM) has earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $131.00.

A number of brokerages have recently weighed in on IRM. Royal Bank of Canada boosted their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays dropped their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus lifted their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $117.96, for a total value of $1,872,615.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,874,874. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,016 shares of company stock valued at $13,666,427. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IRM. OneDigital Investment Advisors LLC increased its holdings in Iron Mountain by 1.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 89 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after purchasing an additional 92 shares in the last quarter. Geller Advisors LLC raised its position in shares of Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 96 shares during the last quarter. Schmidt P J Investment Management Inc. lifted its stake in Iron Mountain by 3.6% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock valued at $340,000 after buying an additional 100 shares in the last quarter. Finally, Claro Advisors LLC boosted its holdings in Iron Mountain by 0.6% in the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after buying an additional 103 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Iron Mountain stock opened at $109.19 on Monday. Iron Mountain has a 1-year low of $65.01 and a 1-year high of $130.24. The business has a fifty day moving average price of $111.35 and a 200-day moving average price of $111.88. The stock has a market capitalization of $32.04 billion, a price-to-earnings ratio of 303.31, a PEG ratio of 5.56 and a beta of 1.02.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Monday, December 16th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, December 16th. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.